Lawyers for former executives and directors of WesCorp FCU told a federal court here yesterday that National Credit Union Administration's (NCUA) new suits claiming JPMorgan Securities and RBS Securities misrepresented the sale of risky MBS to the one-time $34 billion corporate should disprove the agency’s claims of negligence in a multi-billion federal lawsuit brought against them.

The new claims against the Wall Street banks, asserted the WesCorp figures, “are admissions that undercut and render implausible the NCUA’s allegations in this case in that the (WesCorp figures) acted “clearly unreasonably” under the circumstances known to them at the time.”

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